Housing Crisis Caused by Single American Men
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- Опубликовано: 30 июл 2024
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In today's video, we explore a provocative question: Are single men in America inadvertently driving a potential decade-long downturn in the economy and housing market? As young adults in their twenties increasingly opt to live with their parents, we could see home prices plummet by over 20%. Conversely, if home prices keep soaring, investment opportunities in real estate and short-term rentals remain abundant. The key is adaptation and acceleration in our investment strategies. Stay tuned to uncover how these dynamics are reshaping the housing landscape and what it means for savvy investors.
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Credit:
Ayush Rai
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My plumber just divorced and wants to rent the room he was helping me renovate lol.
For any young person who doesn't already have a career, get into a skilled trade!! HVAC, Electrical, Plumbing, etc. You can get into some of these fields with zero experience and work your way up. You have to work hard and be willing to learn.
Totally agree! These so called 'blue collared' jobs are going to be the future millionaires in this next generation.
The issue is these younger people don't want to work. They think they are to good for hard work.
@@abecker930 It all depends on the person's age, personality, and how they were raised. All my brothers, sisters, and friends, that are 25 to 37 years old, work and have careers. There are a few of my siblings friends that are lazy.
young me nstaying at home to live with their parents is usually a financially driven choice... for a financial advisor you would think she would mention that.
Yep, I stayed at home for a bit to save up some money too after undergrad
Not so with the prices of food gas etc decline in marriages single people can't afford a mortgage. They also are cutting it jobs and replacing people with ai. An it will only get worse for the millennials.
Glad you are so optimistic BUT your success that you have earned seems to have insulated you from the reality of how bad it will get post the election prop up.
Insulated me from reality? Haha. Considering I come from a family of Vietnamese refugees that could barely afford meat in our diet and I graduated college in 2006 right before the Great Recession, I'd argue it's because of my exposure to hard times that allows me to look at things from a place of abundance, rather than scarcity.
Sensible, interesting video! Thank you Kai!
I agree and I'm seeing prices decline significantly . I'm willing to bet the farm will see the biggest real estate crash since the great depression soon.
@@KaiAndrew Your last line kind of made my point. It has nothing to do with your past. Your Current abundance thinking will insulate you personally because that's what positive thinking is designed to do. You will see opportunities that others don't, you will thrive and gain even in a drought, I experience this everyday and especially during COVID while people suffered a lot. I was and am still so PERSONALLY insulated from the reality that I at times forget what's really happening out there.
@@whatchandstudy7 Americans in general, nothing new. People are people and we change overtime.
Sensible, interesting video! Thank you Kai!
Glad you enjoyed it!
Interesting content!🔥🔥
Economic comment. VibeFlation is where we are now. What does that mean? It’s the “All is GREAT vs The RECESSION in my world/industry vertical”. My organization is seeing > 17% of our customers experiencing a Reduction In Force in 2024.
Good point and thanks for sharing, Brian.
Lol yet hedge funds are betting on women to be single living in apartments.
Why are hedge funds thinking that?
Yeah I think there was "quite" a bit of bias in that single men will cause a housing crisis. I'm a single man and just bought a house but that's because I can afford it. So I think her blame of causation is just simple correlation.
Over 27% of SINGLE FAMILY homes are being purchased by investors… might have an impact on the market? That’s over ¼ of all single family homes in a national market that is over 7.5 million homes short, while we are currently building about 1.4 million homes per year = that would take 5.3 years to achieve a balanced market - with wars and more than likely supply chain issues ahead… as much as I think it would be healthy for us to finally have a correction in the housing market, it does not appear that (individual) home ownership is a concern of the establishment at this time. I’d argue the indications point to the contrary.
It's always a pendulum that goes back and forth - it will swing back the other way. 5.3 is a blink of an eye in terms of the market. 2019 was 5 years ago already. Alas, there are still good markets and deals out there - more than you'd think.
Majbe we just don't want to be rapped in the divorce court
Lol. Perhaps. Ps. prenup
@@KaiAndrew those are not bullet proof at all.
Hey Kai, I just watched your video and I must say that it was really informative and well-made.
I was wondering if I could help you edit your videos and repurpose your long videos into highly engaging shorts? I can also make high CTR thumbnails for your channel
We will see, but you’re not a boomer with sons living at home. I know many of the same. They just can’t afford a home. Due to Air B&B the rental market is insane with rental costs being the same as home ownership.
I find that hard to believe. And I know that’s not true. Every major city has areas of the city that has lower cost of living. If your area doesn’t - then he can move somewhere else. The median rent of an apartment is $1700/mo. Let’s say your son finds an older apartment or condo with 3 bdrms for $2100/month including utilities. (I’m in the market, looking to buy an apartment building with 2bd/1bath units that rent at $1500 in a good area of Austin,Tx - so yes this is possible). He gets two roommates and split the bills and he’s paying around $900/mo. That’s $10,800/yr. Assuming he’s spending 33% of his take home on housing, that means he needs to take home $33k/yr or approximately $55k gross salary. The problem is either, expectations are too high and he wants to live in an area he can’t afford or he either doesnt want, or isn’t qualified, to get a job that pays $27/hr. Ps. My cohort graduated at the top of the market bubble in 2006/2007 when housing prices were even higher…
This young man is delusional like many on left.
@@KaiAndrew In our area anything that has more than two bedrooms where you could feasibly accommodate roommates is an Airbnb. And not everyone makes $27 an hour. I don’t even make that! You have your head in the clouds if you believe that everyone has a college education. My daughter does my neither of my sons do. One makes decent money and the other doesn’t. It’s not easy to get a college education if your father isn’t interested in helping you out and they all three have the same father, but that’s a different story. And we’re not originally talking about renting anyway. We were speaking about purchasing a home. You have to have a sizable down payment. And picking up and just moving somewhere costs money. You are obviously upper middle class with a silver spoon in your mouth. Take off your rose colored glasses and take a look around at the real world. Not everyone has the same advantages. People actually live paycheck to paycheck in the real world. So I’m sorry but you are so wrong. So blatantly incorrect! I feel sorry for you for having your young head in the sand and not seeing the world as it really is.
A lot of gen Z went to college but can’t find good jobs because they have been outsourced and immigration has kept wages low. Most places around the country are not paying $27 dollars an hour.
have you heard the other theory about boomers causing a real estate crash as they pass away and their homes flood the market supply? would be curious to hear your thoughts on that one too
When I told my direct reports that my role is to serve and enable them, I think they agreed and took that and ran with it. There’s definitely an entitled sense, blindness to their own misgivings, and outspokenness when they aren’t happy. I would say I appreciate their candor, but they have no filter.
Yeah, I remember this was a thing with us Millennials in our early 20s as well. I hope it's just an age thing that we can "grow out of."
Federal reserve is the problem
Well, technically it’s congress and bills we passed. The Fed was just one of the tools that was used.
@@KaiAndrew i suggest you read the creature from Jekyll Island
And single, with social media and people's behavior how can anyone take relationships seriously?
This is outstanding work/summary. The world coming to an end is way more entertaining. Sadly, it’s all gonna be OK.
Lmao 😂😂😂😂😂😂😂😂😂
??
Kai, I am Cambodian where my parents came to the states during the SEA conflict(Vietnam war/Khmer Rouge).
You are spot on with the difference in culture. You and I more than likely went through the same struggles growing up however this issue is nuanced and multifaceted.
It's expensive to get married. Divorce is financial ruin for a man and in today's dating climate where it's normalized, most men don't want to take that risk when the odds of divorce is so high. Hence why more men stay "single".
It costs a lot more to "make it" today than say, 10-15 years ago.
I agree with you on motivation and entitlement. There no way I can say this without coming off as a hater or "boomer" but most young men I meet want to cosplay the sigma/grind mindset but in reality, just want to appear that way on Instagram or TikTok. The influencer point is spot on.
I am first generation American like you and I'm already a homeowner. I did this by working in a damn warehouse doing phyical labor. Young men are entitled and "too good" to do work. I say, stay broke and rent forever.
Thanks for sharing and congrats on working hard to become a homeowner. I hope you've built some good equity and you can leverage it to build an even better life for yourself.
I don't think so. And I informed both of my kids to live at home for a while to save cash & invest, then move on.
I don't think that's a bad idea to save cash as they both start out. I did the same when I was 21 year old.
Spot on. Everyone is hoping the market crashes, but it won't happen any time soon. Things will only trend back up. Buying places right now when nobody else is, is the move.
That is depressing
I can see you watch the news and don't actually look at the market first hand. That means going online and seeing the price cuts everywhere. Houses are not selling at the ridiculous high prices . In fact 1 home in Maryland sold 200,000 under asking. An that's just the tip of the iceberg. Wake up learn how to research and critically think beyond cnn.
Maybe the market needs to adjust and start building homes, condos or townhomes that are not 2,000, 3,000 or 4,000 sq feet. This model was never financially or environmentally sustainable, but it did bring in profits with larger loans and margins for builders. And maybe the government needs to provide better tax incentives or lower interest rate loans for first time home buyers? Finally, maybe the government should limit the number of institutional investors, with the right incentive structures, who can buy homes and drive up rents along with home values? This has been a significant problem since the 2009 crash. Just a thought.
Yeah, those are some good ideas. But the market builds what the customers want...otherwise the businesses would die. The reason it's that way is because consumers are asking (paying) for it.
@@KaiAndrew I do believe that intervention is the way to redirect the economy, which has been a problem for the US when bubbles were looming. We keep repeating the same mistakes; i.e. Tech bubble and financial crisis (2009). And now a potential housing down-turn along with a credit card bubble/crisis. There is a reason rents are so high with a perfect storm of AirBNB, inflated home prices due to a housing shortage and a distorted rental market with institutional investors. We have some scary days ahead unless the federal government takes some action. To your comment... I believe a key flaw in our model is consolidation and companies, in the US keep driving the price to what they believe people will pay. Bush, Obama and Trump all dropped the anti-trust ball. Biden has SLOWLY stepped back in to reintroduce SOME anti-trust cases, but it's slow coming. I hope not too slow before it's too late.
and the Caribbean culture.
I didn't know that. Very cool.
Men can't be single all by themselves 😒...
Well technically they can...
MGTOW baby!
Dude! You stole this title and idea for a video from another RUclipsr.
Ha, I had no idea there was another one. I got the idea from watching the news...many youtubers watch and read the news :)
Any self-respectable man would want to stay single. I mean a lot of guys get in relationships and become jealous of their partner. This leads most relationships into a downward spiral where the man either becomes abusive or a murderer. And working hard labor jobs is physically and mentally stressful leading many people to go beserk. Because work isn't what it was in the 50s or 60s when people actually got paid fairly and treated right. If at the end of the day you're a lot worse off than had you not worked at all, how does one justify its necessity?❤🎉
Bro, abusive or murderer? Who hurt you, man?
EXAMPLE of a cowardly cry baby entitled man child ..
Get it together. You got problems.
I will rebut one point; millennial entitlement. Yes we are entitled. Because we were raised by the most socially entitled generation in the entire human history, boomers. We see their post-war prosperity, being able to afford a single family home and raise a family on a single salary. The comment of “get a roommate” is on the same vein of “pull yourself up by your bootstraps.” Keep that historical context in mind. Yes the USA is better off than Vietnam but that doesn’t mean we have to have a race to the bottom of “my suffering was worse so it diminishes or invalidates yours.”
It's not a race to the bottom at all. Objectively, refugees coming to America (regardless of country) without speaking English and zero money is in a tougher situation than today's millennials/gen z. As bad as it may be right now, I doubt you'd want to swap lives with a Ukrainian or Russian refugee coming to America for the first time with a family to feed.
Getting a roommate is a clear actionable task - something you could do with friends, family or a simple post on Craigslist. "Pull yourself up by the bootstrap" is vague, abstract and unclear. Poor and inaccurate comparison.
The generation that raised millennial was generation x. You act entitled and most of you suffer from narcissistic personality disorder. You can't handle being told you're wrong etc. A bunch of cry babies groomed by the commuist movements. It's sad to see so many of you lost unsaved and headed for the camps.
@@KaiAndrew agree to disagree lol
Speak for yourself!
This is great news.